UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Raises Stock Position in ConocoPhillips $COP

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in ConocoPhillips (NYSE:COP - Free Report) by 14.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,805,977 shares of the energy producer's stock after purchasing an additional 840,180 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.57% of ConocoPhillips worth $707,549,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the company. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in shares of ConocoPhillips in the fourth quarter worth $25,000. Strive Asset Management LLC bought a new stake in ConocoPhillips during the third quarter valued at $28,000. Frazier Financial Advisors LLC grew its position in ConocoPhillips by 151.0% during the first quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer's stock worth $32,000 after buying an additional 145 shares in the last quarter. Allied Private Wealth LLC purchased a new position in ConocoPhillips during the second quarter worth about $32,000. Finally, BNP Paribas bought a new position in ConocoPhillips in the 2nd quarter worth about $33,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

ConocoPhillips Stock Performance

Shares of NYSE COP opened at $130.46 on Friday. The stock's 50-day moving average is $117.42 and its 200 day moving average is $118.56. The stock has a market cap of $156.73 billion, a price-to-earnings ratio of 17.26, a P/E/G ratio of 1.37 and a beta of 0.11. ConocoPhillips has a 1-year low of $85.57 and a 1-year high of $135.88. The company has a current ratio of 1.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The energy producer reported $3.24 EPS for the quarter, beating analysts' consensus estimates of $2.90 by $0.34. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The business had revenue of $19.52 billion for the quarter, compared to analysts' expectations of $18.79 billion. During the same period last year, the business earned $1.42 earnings per share. The business's quarterly revenue was up 32.4% on a year-over-year basis. On average, sell-side analysts anticipate that ConocoPhillips will post 10.55 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th will be paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Monday, August 17th. ConocoPhillips's dividend payout ratio (DPR) is 44.44%.

Insider Activity

In other news, SVP Andrew D. Lundquist sold 9,487 shares of ConocoPhillips stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $135.15, for a total value of $1,282,168.05. Following the transaction, the senior vice president owned 9,593 shares in the company, valued at approximately $1,296,493.95. The trade was a 49.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.09% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on COP shares. The Goldman Sachs Group lowered their price target on ConocoPhillips from $144.00 to $138.00 and set a "buy" rating on the stock in a report on Tuesday, June 30th. Morgan Stanley lifted their target price on shares of ConocoPhillips from $147.00 to $151.00 and gave the company an "overweight" rating in a research report on Wednesday, August 19th. Susquehanna increased their price target on shares of ConocoPhillips from $155.00 to $161.00 and gave the stock a "positive" rating in a report on Tuesday, August 11th. UBS Group raised their price objective on shares of ConocoPhillips from $143.00 to $153.00 and gave the company a "buy" rating in a research report on Wednesday, August 12th. Finally, Argus lifted their price objective on shares of ConocoPhillips from $136.00 to $153.00 and gave the stock a "buy" rating in a report on Wednesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, ConocoPhillips currently has an average rating of "Moderate Buy" and an average price target of $140.29.

ConocoPhillips Company Profile

ConocoPhillips NYSE: COP is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company's activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.

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